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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Substantive procedures
What is the best way to grasp the substantive procedures?? I am struggling on them and they form the major part of f8 exam.. please help!
I keep forgetting the points when solving past paper questions..
Substantive procedures are tests to obtain audit evidence to detect material misstatements in
the financial statements. They are generally of two types:
???? Analytical procedures
???? Tests of detail of transactions, account balances and disclosures
The types of substantive tests carried out to obtain evidence about various financial statement assertions
the above is from the text book, however, the way i think of substantive procedures versus test of controls is that substantive test deal with account balances while TOC deals with procedures and authorisations.